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Share Name Share Symbol Market Type Share ISIN Share Description
Finsbury Food Group Plc LSE:FIF London Ordinary Share GB0009186429 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  2.70 3.66% 76.40 74.00 76.80 75.90 73.70 73.70 203,565 16:35:26
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Food Producers 306.3 2.9 -0.6 - 100

Finsbury Food Share Discussion Threads

Showing 3751 to 3774 of 4675 messages
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DateSubjectAuthorDiscuss
25/3/2013
12:05
WELL I'M IN ;) http://imageshack.us/f/259/image002pco.jpg/ FIF chart 22/03/13: I have chosen to draw up this chart as I find it interesting! FIF has recently (28th Feb) had a break away gap up form a low of 42.7p to a high of 53p.The gap up was caused by the news of FIF selling two subsidery companies for £21 million see RNS below.... Finsbury Food Group plc Sale of Free From Business for £21 million Finsbury Food Group plc (AIM: FIF), a leading manufacturer of cake, bread and bakery goods, announces today that it has sold its Free From business for a total value of approximately £21 million to focus on its core Cake and Bread businesses. The Free From business consists of two subsidiaries, Livwell Limited ("Livwell") and United Bakeries (Holdings) Limited ("UBH") (the holding company of United Central Bakeries Limited ("UCB")). These subsidiaries, which account for 14% of Group revenues, have been sold to Genius Foods Limited ("Genius"), on a debt-free, cash-free basis. The sale will transform Finsbury's balance sheet with a cash balance of approximately £17.7 million paid to the Group on completion, and a further £3 million payable by the second anniversary of completion. This will allow Finsbury to focus on growing its cake and bread businesses, to further develop its licensed brand portfolio, and to take advantage of the right bolt on acquisitions to drive longer term value as opportunities and circumstance allow. In addition to the investment in its current businesses, the Group will also continue to pay down its outstanding debts. The Group will continue on its stated strategy of generating returns for shareholders by building a crafted bakery group focused on premium, celebration and well-being that delivers for its customers and the end consumer. Back to the charts: The price now seems to be in a variation of a bull flag with a high of 55p.A break over 55p and an advance onto c.70p should ensue for a first target.In order to turn bullish again from this preiod of consolidation the MACD needs to cross back over (fast over slow) and the RSI needs to trend up again for confirmation. Personaly I would wait for 55p to be broken through preferably with a wide range candle and higher volume to enter the trade. Switching back to fundamentals again,there has been alot of interest from Ruffer LLP which has been buying up shares for its "discretionary clients".Thier holding has gone from below 5% from November 2012 to 12% now.Thats alot of buying in a short period of time.This could well be an attempt to accumilate shares before a take over bid...who knows! FIF have an interim statement release tomorrow and this could well be the catalyst to take the price over 55p and onwards.with a p/e of around 2.9 it is also looking very under valued. Mr Bluesky 25/03/13: Finsbury Food, the cake and bread maker reported a sharp rise in half year profit and said the outlook for the group is stronger than ever. Pre-tax profit jumped 32.8% to £3.0m for the six months ended December 31 from £2.2m the year before. Group revenue for the period rose 1% to £103.3m. Sales in the UK Cake division rose 2% to £67.8m and sales in the Bread division gained 7% to £27.4m. The group sold its free from business for £21m in February. Chief Executive John Duffy said: "The group has proved its resilience and continued to drive growth, productivity and efficiencies in what remains a difficult trading environment." "The outlook for Finsbury is now stronger than ever. The sale of the Free From business has transformed the group's balance sheet, giving us the opportunity to catalyse our stated strategy and accelerate further growth through investment and market consolidation whilst reinstating the dividend." Net debt was reduced by 27% to £27.4m and a dividend payment of 0.25p per share has been reinstated. "We will continue to build upon the foundations we have created, and look forward to the next stages of the company's development with the ultimate goal of driving value for our shareholders," Finsbury added
mr_bluesky
25/3/2013
11:00
maybe there will be an acquisition / site opening in Australia?
jpjp100
25/3/2013
10:17
Impressive results especially the increase in profits. Interesting to read the statement concerning future growth being focussed upon organic development, whilst not closing the door on appropriate acquisitions. With the recent divestment of Free From the debt level must be dramatically lower, which should in turn magnify the profitability significantly in the current FY. Given the current EPS of 3.6p, the forward EPS is likely to grow dramatically, which will mean that the current share price looks very modest. I can't see us remaining sub 60p for long and who knows, pending the current HY results, we could even see £1 next year.
spaceparallax
25/3/2013
10:00
btw, Investor's Chronicle maintains its Buy stance on FIF in its daily news roundup.
dashton42
25/3/2013
09:46
Anyone care to speculate on who the acquisitions, small or otherwise, may be? I don't know enough about the food industry to know which companies may be a good strategic fit with FIF. Other than that, generally happy with the results, and am looking forward to future developments with a great deal of interest.
dashton42
25/3/2013
09:28
Great results. Very stingy dividend, but at least they have started! Once the sale completes, this will definitely be looking undervalued.
topvest
25/3/2013
09:03
I would think that capex in the current focus followed by small bolt on opportunistic aquisations of small privately run operations.
this_is_me
25/3/2013
08:57
I'm struggling to see what acquisitions would be if they are already number 2 in cakes. I'd expect something to broaden the business - but what? FIF has been tipped several times in Shares this year. I would have thought these results will virtually guarantee coverage. SHares does not have IC's clout, though.
aleman
25/3/2013
08:52
I would see an increase in capex with some smaller aquisitions more likely than one big aquisation.
this_is_me
25/3/2013
08:50
I think it might even get a mention in Investors Chronicle today - they do seem to be "across" this company...
dashton42
25/3/2013
08:37
might need to be tipped at end of this week in IC or sunday papers to get it moving.
woodcutter
25/3/2013
08:27
I thought they could manage an acquisition up to about £20m or so. I now reckon £30m and maybe end up with a company with EBITDA of £18m+ and debt of £30m or so. Debt/EBITDA would still be no higher than peer average at 2 or under and EPS around 10p and rising. I know I'm getting ahead of myself a little but I'm just wondering what sort of acquisition(s) they are thinking of.
aleman
25/3/2013
08:13
it seems you can't please everyone, some sells on these results!!! WC
woodcutter
25/3/2013
08:09
well i might be a little late to the party this morning chaps but all-in-all i think the results are pretty damn good and concur with the general feelings of the wider community on here. I would have liked to have seen 0.5p for the divi now and maybe 1p/1.5p at H2 which is easily affordable but beggars etc. Well done boff, aleman, dash, space, T-i-m for hanging in there when many have gone. Surely we must see an share price re-rating from now. Woody
woodcutter
25/3/2013
08:06
It seems to Me that the placement and elements of today's statement showed that they were constrained by debt and pressure from the banks from essential capex. Normally I strongly object to companies that sell off the fastest growing part of the business cheaply when under cash pressure. (eg. FDL recently) but in this case they were able to sell at a fair price to the brand owners. Failing to sell to them could have caused very strained business relationships that would have caused too many problems. I think that the management now have room to breathe and we should see progress in the medium term going forward.
this_is_me
25/3/2013
08:01
0.25p?? Not going to quit the day job just yet then. Debt down more than I expected though
boffster
25/3/2013
07:55
EPS is stronger in H2 and cashflow much stronger. I would not expect a 50/50 split of the dividend for any other company with such seasonality. I'm wondering if we will get 0.25p + 0.50p.
aleman
25/3/2013
07:52
They could have paid the small dividend and managed the capex without the disposal. It certainly has transformed the balance sheet.
aleman
25/3/2013
07:42
The disposal has transformed the balance sheet, allowed small dividends and allowed investment in upgrading and replacement of old plant.
this_is_me
25/3/2013
07:40
Stronger numbers than I was expecting. EPS of 3.1p fully diluted for November fundraising in the weak half. Debt still down £2m in the weaker half if fundraising is ignored. (Once again, why did we need it? Debt/ENITDA now looks around £27m/£13m= 2.1.) H2 will show minimal turnover growth but profit growth has come from margins. The big improvement in the balance sheet is mostly current assets going from -£17m (which worried some investors) to -£12m. Deferred payments is now down to only £400k. Negative assets ex-goodwill looks likely to be close to elimination in H2. So EPS and cashflow look a bit stronger than I was expecting. How on earth did Cenkos get such weak forecasts? Last year was 2.1p in H1 and 5.9p in H2 to give 8.0p full year. This year we have 3.5p (3.1p fully diluted) for H1 so we should be looking at 5.9p (5.0p fully diluted) with no improvement after the disposal in H2 to get a minimum of 9.4p (8.0p fully diluted) - and even more if H2 is strong. Cenkos will have to raise forecasts, surely.
aleman
25/3/2013
07:11
Highlights · Group revenue up 1% to £103.3m (H1 2011: £102.0m) · Profit before tax up 32.8% to £3.0m (H1 2011: £2.2m) · Sales in the UK Cake division up 2% to £67.8m (H1 2011: £66.6m) · Sales in the Bread division up 7% to £27.4m (H1 2011: £25.6m) · Net debt down 27% to £27.4m (H1 2011: £37.7m) Operational Highlights · New celebration cake venture in Australia · Position as second largest manufacturer of ambient cake in the UK maintained · Licensed cakes continue to perform well - strong performance from Spiderman and Moshi Monsters, plus addition of Me to You range · Continued growth in Bread brands · Placing to raise £3,779,300 after expenses for capital investment projects in UK Cake business Post period highlights · Sale of Free From business for £21m · Approved interim dividend of 0.25p per share
skinny
25/3/2013
07:02
Divi reinstated, debt down, now to pour over the report in more detail...
dashton42
25/3/2013
06:58
Here we are, moments to go...
dashton42
19/3/2013
15:50
roll-on monday, then the share price rise can continue
spaceparallax
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